WHEN we think of global business powerhouses, countries like South Korea, Japan and China come to
mind – nations whose companies
and brands command worldwide recognition and respect.
They have built their reputations on innovation, reliability and quality. But what about Malaysia? Despite our country’s rapid economic growth, technological advancements and expanding industries, we are often undervalued on the global stage. This is not because of a lack of capability but because of something I like to call the “prejudice premium”.
The prejudice premium is the hidden cost we pay when international perceptions, shaped by media and outdated stereotypes, unfairly undervalue our companies and brand potential.
It is a reality that Malaysian businesses face as they try to compete globally, and it is stunting our ability to fully leverage our strengths in key industries like technology, manufacturing and services.
Let’s face it – Malaysia has a perception problem. For years, we have been lumped into the same media narratives that focus on political instability, governance issues and isolated cases of corruption. These stories are undeniably part of our national discourse, but they do not represent the full picture.
The reality is that, despite these challenges, Malaysia has emerged as one of Southeast Asia’s most dynamic economies. We have strong infrastructure, a thriving middle class and a rapidly growing technology sector.
Yet, when global investors and consumers hear the word “Malaysia”, many still think of a risky, unstable place.
This misperception costs us – both in terms of direct investment and in the value that global markets assign to our brands.
Malaysian companies often find themselves unfairly compared to competitors from countries with more favourable international reputations, even if those countries face similar or greater risks.
The irony is that many Malaysian firms are as competitive, innovative and capable as their counterparts in more developed nations, yet they struggle to attract the same level
of foreign investment or market recognition.
Take our technology sector, for example. Malaysia has become a key player in the global electronics and semiconductor supply chain, and our startups are showing incredible promise in areas like fintech, e-commerce and green technology.
However, when was the last time we heard about a Malaysian technology company breaking into international markets? It is not that they are not trying or that they are not innovative. It is that global investors and consumers are too often blinded by the media’s outdated narratives of political instability and governance problems, rather than focusing on
the country’s substantial economic progress and business opportunities.
This is the prejudice premium at work. It is a form of reputational tax that we pay simply because the world does not fully understand the real Malaysia.
Our companies face higher borrowing costs, steeper competition for partnerships and scepticism in markets that should be welcoming our products. The world sees risk where there is opportunity, and that perception directly impacts how Malaysian brands are valued globally.
Consider this: if our companies were based in Singapore or South Korea, they would be valued far higher, with better access to international capital and consumer markets. The only real difference is the country’s global image.
In an interconnected world where media shapes perceptions, countries like Malaysia find themselves disadvantaged simply because the world has not caught up to our reality.
The cost of this undervaluation goes beyond just dollars and cents. It means that our most promising companies may never reach their full potential, and Malaysian consumers miss out on the benefits of having stronger, more globally competitive businesses.
We also lose out on critical investments in sectors like green energy, technology and healthcare – areas where Malaysia could be a regional leader if given the chance
to shine.
One may argue that part of this perception problem is of our own making. After all, political scandals and governance issues have made headlines, but it is important to remember that Malaysia is not unique in this regard.
Countries such as South Korea and Brazil also deal with corruption scandals and political instability, yet their companies are still able to thrive on the global stage. Why? Because their international media narratives are more balanced, and their successes in business, culture and innovation are given the spotlight.
This is where Malaysia needs to step up. We need to take control of our narrative, at home and abroad. Our government and business leaders must invest in better public relations campaigns to showcase the
progress and achievements that are happening here.
We need to tell our story – a story that highlights not only the challenges we face but the immense potential we hold. Our technology sector is booming, our infrastructure is robust and our companies are capable of competing with the best
in the world, but if we do not communicate this to the rest of the world, we will continue to suffer under the weight of the prejudice premium.
It is time to change the conversation. The international media needs to stop viewing Malaysia through a narrow lens of political drama and governance issues.
There is so much more to this country than that, and it is high time the world took notice. For every sensational headline about Malaysian politics, there are dozens of untold stories about our thriving businesses, our innovative entrepreneurs and our role as a key player in the global economy.
By shifting this narrative, we can reduce the prejudice premium that has kept our companies undervalued for far too long.
We can unlock billions in potential investment and elevate Malaysian brands to their rightful place on the global stage. This is not just about fairness; it is about realising the full potential of Malaysia’s economy and securing our future as a global business leader.
Let us stop paying the prejudice premium and start telling the world the real story of Malaysia. Our companies, our people and our brands deserve it.
Jacob J. Puthenparambil is the founder and CEO of global communications agency Redhill.
Comments: letters@thesundaily.com
